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MAT 143 Comparing Loan Options
Chapter 4 LAB B
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In this lab, we will compare 3 different loan options. Suppose that you are buying a house for $205,000. The loan is at a fixed APR of 3.5% for 30 years.
Option 1: Making a down payment
(Note that property tax and homeowner’s insurance will usually be added to the monthly payment, but we will look at just the payment on the principal for comparison purposes.)
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